Posts Tagged ‘Indian flag’

Fiscal deficit at $65.7 billon for Apr-Nov: Govt

The fiscal deficit of India for the period between April to November stood at Rs 3.06 trillion ($65.7 billion), or 76.4 percent of the full-year target, the government said in a statement on Thursday. The tax receipts stood at Rs 2.33 trillion and a total expenditure stood at Rs 6.22 trillion for the first eight months of the financial year 2009/10.

In July, the government had forecasted fiscal deficit of Rs 4 trillion, or 6.8 percent of gross domestic product (GDP), for 2009/10.

The finance minister Pranab Mukherjee earlier this month had said that the fiscal deficit would not cross the target of 6.8 per cent of the gross domestic product (GDP). With the prevailing trends in the receipts and expenditure, along with better than expected economy performance in the second quarter of the current fiscal, it is expected that the fiscal deficit will remain with the estimate of 6.8 per cent.

However, the direct tax collections by the government increased by a marginal 3.7% to Rs 1.83 lakh in the first 8 months of this fiscal. Further, in the personal income tax segment, the government collected Rs 70,262 crore, up 4.53% while in November, the tax collections were nearly similar to last year as the mop-up was Rs 10,375 crore.

Moreover, the corporate tax collections declined by about 30% to Rs 3,214 crore against Rs 4,561 crore last fiscal while in the April-November period, the collections by way of the Security Transaction Tax stood at Rs 4,349 crore, up 4.44%.

The Finance Minister, Mr. Pranab Mukherjee, yesterday stated that the Indian economy cannot sustain a high fiscal deficit for very long and it is, however, still too early to pull out of the fiscal stimulus.

“We shall have to strike a balance between the requirement of the economy and also the capacity of the economy to bear this level of fiscal deficit and borrowing,” the Finance Minister said on the sidelines of a Corporation Bank event.

INDIA Gears Up to Celebrate the Glory of India’s 62nd Independence Day :)

India's Independence Day

Independence Day – August 15, 1947, the most important day in the history of India, the day when the long suppressed nation found utterance. πŸ™‚

It was the day when India got independence from the British rule.

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The stroke of the midnight brought with it a ray of new hope for India, as our first Prime Minister, Jawaharlal Nehru said, the world was asleep but India awoke to life and freedom.

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A new nation was born! πŸ™‚

Since then August 15 is celebrated as the Independence Day in India every year.

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Independence Day is celebrated all across the nation with great enthusiasm; the day is marked with the Indian flag hoisting ceremony at Red Fort and Prime Minister’s address to the nation.

All the state buildings and structures of national importance are adorned with β€˜Tricolor’.

In the evening , sky is dotted with hundreds of colorful kites symbolizing the freedom. πŸ™‚

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Indians around the world would celebrate their Independence Day once again tomorrow on Aug. 15 – the day, 62 years ago, when the Asian country shook off British rule.

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On Saturday, about billions of Indians are expected to gather in India and outside India to celebrate our 62nd Independence day. πŸ™‚

“Sixty years ago we started a new journey.
We were inspired by Mahatma Gandhi‘s thoughts and views.
In the true sense we will have freedom and independence only when we get rid of poverty.”

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Schools, Collages and offices all over in India are preparing to gear up for the celebrations with full fervor and up with rehearsals for the cultural activities to be performed after flag hoisting ceremonies,tomorrow.

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Police personnel, NCC cadets and Defence forces all across India are up with the practice marching at Parade Grounds in rehearsal ahead of Independence Day celebrations.

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Artisans all over India are fully occupied with the task of preparing mementos on Mahatma Gandhi and other freedom fighters in order to make it available to consumers who would rush in to buy the same.

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Same way, the stitching of national flags, our Tricolour, are on at workshops with full vigor all over in India, to meet the demands for Indian Flag tomorrow.

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Young boys and Girls are waiting keenly for tomorrow to paint their faces in tri-colour as Independence Day celebrations fervour gets in the air.

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Amid intelligence inputs about possible terror attacks ahead of Independence Day, an impregnable ground-to-air security apparatus is being put in place in the capital to pre-empt any such strikes.

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Thousands of personnel of Delhi Police and paramilitary are being deployed in and around the city, especially near Red Fort from where Prime Minister Manmohan Singh will unfurl the tricolour and address the nation.

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However nothing can deter our spirits to celebrate our 62nd Independence day.

We should be really Proud of INDIA and about the contribution of indians to the world but in the midst of our celebrations we must not forget about our Martyrs πŸ™‚

As well we need to remember that we all hindu, muslim, sikh, christians, buddhists are brothers [:)]

Long live those who stands for “Qoami ekta” and β€œUnity in Diversity” πŸ™‚

Hail to Our Father of Nation and all those Martyrs who got us our Freedom.

Proud To Be an INDIAN. πŸ™‚